GoodReturns
Archive - 2013
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August 2013
30 Aug 2013 Advisers heading off formal complaints
30 Aug 2013 Exclusive property up for mortgagee sale
29 Aug 2013 Deemed rate of return falls
29 Aug 2013 Ross pleads guilty
29 Aug 2013 FMCB passed
29 Aug 2013 Be clear on value: Dowling
29 Aug 2013 LVR limits have limited impact: Westpac
28 Aug 2013 The role of annuities in the New Zealand retirement incomes policy mix
28 Aug 2013 Kiwibank aims to grow its share of the home loan pie
28 Aug 2013 Kiwibank aims to grow its share of the home loan pie
28 Aug 2013 Fidelity makes two senior appointments
28 Aug 2013 Brown: Advisers struggling with principles-based approach
28 Aug 2013 Price growth not exceptional: Barfoot
27 Aug 2013 nib signs up Benji Marshall for new campaign
27 Aug 2013 ANZ says speed bumps will slow the housing market
27 Aug 2013 First FADC action taken
27 Aug 2013 Flexible pensions proposal risks
27 Aug 2013 TSB deletes special rate; Speed bumps will work
27 Aug 2013 ANZ: How low will sales go?
26 Aug 2013 Quote Monster business sold
26 Aug 2013 ASB ups rates and adds special
26 Aug 2013 Too many professional bodies: Advisers
26 Aug 2013 Sunset clauses may burn investors
23 Aug 2013 Campbell to step down
23 Aug 2013 [Weekly Wrap] Adviser advocate resigns
23 Aug 2013 New wave of rate hikes starts
23 Aug 2013 OnePath trauma changes
23 Aug 2013 FMA and Code at odds over adviser rules
23 Aug 2013 ANZ cracks 7% mark
22 Aug 2013 Kiwibank moves to self insure its loans
22 Aug 2013 Kiwibank moves to self-insure loans
22 Aug 2013 Direct sales not a threat to advisers: Sligo
22 Aug 2013 Alexander: Rules will push up regional house prices
22 Aug 2013 Five Star investors angry
21 Aug 2013 Trade Me enters life insurance market
21 Aug 2013 Aust super schemes not playing ball with KiwiSaver
21 Aug 2013 Bank customers will be disadvantaged by lending restrictions; BNZ hikes
21 Aug 2013 Cash sales declining: Property IQ
20 Aug 2013 What it takes to be the FMA CEO
20 Aug 2013 Customers 'will be disadvantaged'
20 Aug 2013 LVR move stricter than predicted
20 Aug 2013 Bank lending restrictions announced
20 Aug 2013 LVR restrictions a thicker mattress rather than a stout fence
20 Aug 2013 Advisers raise concerns about Code changes
20 Aug 2013 Kiwibank to push investors back in queue
20 Aug 2013 LVR restrictions announced
19 Aug 2013 LVR restrictions a thicker mattress rather than a stout fence
19 Aug 2013 AMP has better experience with life insurance claims
19 Aug 2013 Time running out for life companies to get licenced
19 Aug 2013 Ross investors face $3.8m clawback
19 Aug 2013 Floating rates set to go close to 8%
19 Aug 2013 Plan to help people switch KiwiSaver schemes
19 Aug 2013 Kiwibank offers energy use check-up
16 Aug 2013 [Weekly Wrap] Commission debate continues
16 Aug 2013 New CPD guide for IFA members
16 Aug 2013 Sean Hughes' speech to Workplace Savings
16 Aug 2013 Arkinstall and co sentenced
16 Aug 2013 FADC hears three cases but issues no decisions
16 Aug 2013 More to go with house prices
16 Aug 2013 Cycle 'may be only half-way through'
16 Aug 2013 Hughes apologises to investors
16 Aug 2013 'Cycle may only be half-way through'
15 Aug 2013 ASB's bumper profit
15 Aug 2013 Showing value for advice number one issue
15 Aug 2013 Private option for listings
14 Aug 2013 LVR restrictions a significant change: ASB
14 Aug 2013 Do trips make a difference?
14 Aug 2013 Loan restrictions creep closer - or do they?
14 Aug 2013 Code review sparks soft dollar commission debate
14 Aug 2013 LVR restrictions at odds with Government: Eaqub
13 Aug 2013 Reserve Bank releases response to submissions on high-LVR restrictions
13 Aug 2013 Aussie takes over IFA board chair
13 Aug 2013 Two tier home loan pricing
13 Aug 2013 How much do advisers earn?
13 Aug 2013 Returning to the heart of being a broker
13 Aug 2013 Botherway considers property fund: report
13 Aug 2013 First-home buyers rush in
12 Aug 2013 Code changes impact RFAs
12 Aug 2013 First-home buyers try to beat restrictions: REINZ
12 Aug 2013 House price expectations up
11 Aug 2013 Changes to KiwiSaver subsidy, Welcome Home Loans announced
11 Aug 2013 Shareholders to vote on note conversion
10 Aug 2013 More RMA reforms planned
09 Aug 2013 New appointment to Southern Cross Travel Insurance
09 Aug 2013 General Finance reports growth
09 Aug 2013 Code changes released
09 Aug 2013 Wind up of LM Fund to start
09 Aug 2013 [Weekly Wrap] Code Committee shows its hand
09 Aug 2013 How to tell a good adviser from a bad one
09 Aug 2013 Quick auctions not in vendor's interests: Helm
09 Aug 2013 Lender seeking projects
08 Aug 2013 CEO of biggest broking group resigns
08 Aug 2013 LVR lending restrictions may not materialize
08 Aug 2013 Henderson reduces fees
08 Aug 2013 New chairman for Million Dollar Round Table
08 Aug 2013 The return of big planning firms
08 Aug 2013 Prices growing, but more slowly: QV
07 Aug 2013 A little less stimulus ahead
07 Aug 2013 RBA cuts, lenders pass
07 Aug 2013 Auctions frustrating buyers
Latest News
Advice adds at least 5% a year, but clients can’t see most of it
Advice adds at least 5% a year, but clients can’t see most of it
4 min read
Adviser use of ETFs likely to continue to grow, Smart says
Adviser use of ETFs likely to continue to grow, Smart says
2 min read
FMA outlines its latest expectations for advisers
FMA outlines its latest expectations for advisers
6 min read
[Weekly Wrap] KiwiSaver in play; but outcome unclear
[Weekly Wrap] KiwiSaver in play; but outcome unclear
2 min read
Latest Comments
FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
6 hours ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
9 hours ago Backstage
FMA outlines its latest expectations for advisers
All things said are great aspirational goals for a great financial advice industry, it mirrors what both the legislation and the code requires. However, like most things discussed it talks about what's expected not how it's done. The hardest aspect of financial advice today isn't what it is, it is how it is done. The how only comes from those that have done it, the how is only provided with examples. Guidance documents that spell out what's required along side how it it done. We’re still dealing with the same issues we started with in 2021, figuring out the how. And figuring out the how in every advice business is consuming resources that could easily be shortcut by the FMA demonstrating what they are expecting. It's not about “do it this way” its about this is the sorts of things we’re looking for. In the absence of standards and expectations, guesswork prevails. That represents significant risk to FAPs and the result is onerous overcooked advice processes for multiple advice operations and undercooked she’ll be right for single operators focused on getting the work done. Both approaches have potential for harm and as its been said earlier, leaves advisers open to explain they haven't been speeding with the authorities have pulled them over. The advice industry needs guidance on the how we know the what already.
2 days ago Jon-Paul Hale
Who is responsible for notifying policy changes?
Sticking an oar in, while we have “service” requirements the expectation that an adviser is responsible for discussing said change is relying heavily on assumption. 1. That the client hasn't moved and contact details haven't been updated. It happens more often than many think. 2. It assumes there is a servicing agreement in place to provide service. Remember the requirement is to scope service not provide it. A client deciding to have ad-hoc service on their request is a legally valid position to have. 3. If there is a service agreement that's realistic to what is expected, how long does the adviser push the issue to have the discussion before moving on with everything else they have to do? Again, a point that is not clear in the guidance to date. The challenge of the present rules is the adviser is responsible for ensuring the client understands the advice provided. How do you ensure you're covering this if a client doesn't engage despite genuine attempts to manage it? There's still a lot of “what if’s” in this whole are we’re only going to have clarity on once someone is taken to task about it. But first we need to have clarity on what ongoing service actually is, because right now demonstrated by the direct providers a letter once per year with a please call if you want to discuss is the current minimum…
2 days ago Jon-Paul Hale
FMA outlines its latest expectations for advisers
To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
2 days ago Paul Flood